Qatar’s Barwa Real Estate Group said it has signed an agreement for a facility with Ahli United Bank amounting to $157.14 million to refinance part of the current obligations.

The term of the new financing is up to three years, the company said in a statement on Qatar Stock Exchange, on Wednesday.

The company, one of Qatar’s largest real estate developers, reported a net profit of 1.21 billion Qatari riyals ($330 million) in 2020 compared to 1.50 billion riyals the year-earlier period. 

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@refinitiv.com

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